Legal Question in Business Law in Ohio

LLC-Majority shareholders rights

My husband is coowner of a small LLC, that has not shown a profit in years. We haVE put $30,000 of our personal money in last year to keep company afloat. The other owner is only 20% owner and has put no money in. My husband is the other 80% ownership. We just found out his partner has been writing himself checks, not paying bills and not telling my husband, who has not recieved any money in a long time. What recourse do we have, there is nothing in there operating agreement about this subject.


Asked on 4/09/07, 2:48 pm

1 Answer from Attorneys
Michael Brandabur Brandabur Law, LLC

Re: LLC-Majority shareholders rights

There are a number of options. However, such advice requires a fair amount more detail. In addition, there are some practical issues. Your husband should immediately consult with a knowledgeabel corporate law attorney. I'd be more than happy to discuss further.

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Answered on 4/10/07, 1:46 am


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